A corresponding bank that confirms the letter of credit is independently liable for its payment.
Correct Answer:
Verified
Q7: In a documentary collections transaction, the bank
Q8: The use of a draft or promissory
Q9: The strict compliance rule says that the
Q10: The issuing bank is responsible for inspecting
Q11: Banks are required to know or investigate
Q13: An advising bank is liable for the
Q14: A documentary draft payable within 60 days
Q15: The UCC requires that banks review documents
Q16: Oral acceptance of a draft is allowed
Q17: The difference between a draft and an
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